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. at a football game, he is looking with all the other men, and it is italy against switzerland. at one time, the italians win. i find it beautiful and emotional at the same time. he betrayed himself through that reaction, and at the same time, it was beautiful, but at the same time, it is sad that you have to change your color or to hide it. that you have to do something like that to deny even your origin. you have to be proud of your urgent and to show it. >> you are giving me a challenge and a challenge -- giving me a challenge and yourself a challenge. what about cult? that is not something to hide behind. it is so out there, and yet, it can be quite important part of your collection. why? >> i have been very marked by the movement. -- what about punk? >> it is not like a creation, absolute. it is part of living in society. of course, the punk movement was very important. like already taken by the society in some ways. i must say that when i was going to london, i loved that. the inspiration, through the air, to everything. at the same time, i was fascinated. because i was not part of th
himselfs in cultures and languages and took multiple trips to study abroad in spain, italy, morocco. perhaps most importantly chris knew how to relax and enjoy the moment. when i would periodically freak out about my course work or some o ther problem i thought i had he would make me stop and take a break, play a game of back gammon on the balcony and enjoy the view. it was an early lesson in the zenlike mindfulness of chris. no wonder he exceled in such a challenging and stressful career. i don't want you to think chris was perfect. after extensive research we came up with at least one or two blemishes on his record, sort of. in the interest of time i'm leaving out inappropriate limericks about philosophers. the only time i saw him lose his temper is when we were sharing a double room in the last year. some of the lessen lightened brethren decided to make a bunch of noise during finals week. when yelling at these guys didn't do the trick, chris burst out of bed, ran out onto the balcony, grabbed a water fire extinguisher and let them have it. he seemed much less angry when he came
harbor and he signed up. he lost an arm to a german grenade while he was fighting in italy. his colleagues are still amazed by his legacy. >> it can be seen in every mile of every road in hawaii, in every nature preserve, in every facility that makes hawaii a safer place. >> senator inouye died at walter reed national military medical center. this was yesterday. he was 88. >>> still to come when the news continue this morning, theater bus. the next segment is for you. he "les miserables" is playing at the national theater. coming up in a bit, we'll talk to one of the stars of the hit musical and hear her sing as well. you don't want to miss that. >> first, a bulletproof backpack. see what some parents are doing to make sure their child has a fighting chance should a disaster strike in the classroom. >>> last friday's shooting in newtown, connecticut has many parents across the country searching for more ways to keep their children safe. is a backpack shield the answer though? we take a look. >> reporter: here it is. the backpack shield is manufactured right here in austin, texas
've lived the longest oots. >> sar din ya, italy, okinawa, japan, loma linda, california, the nick coy ya peninsula in costa rica. these are all places where the people not only are living longer than most americans, but their quality of life and overall health is remarkably better as well. here's his latest blue zone recovery. greece. people here are three times more likely to reach their 90s and older people have half the rate of heart diseasdisease. their minds stay sharp as well. america has one quarter the rate of dementia. he wants to capture that formula so you and i can live longer. >> you know, it captures the imagination, dan, for sure. welcome back to the back to th. people always ask about this, they want to know what do other people in other parts of the world know that we don't, how much of this is genes, and how much it lifestyle. >> 20% of how long the average person lives is genes, the other 80% is lifestyle and environment. >> the thing that people always point to in the united states is stress. it's a vague term, means different things to different people. is stress he
in italy and there lost an arm to a german grenade, leading a battle that won him the medal of honor. >> everything became a bit crazy. bullets flying all over the place, and my arm flew off. i looked for the grenade because i knew it was in my hand, and there it was still clutched. and i peeled it off and threw it at the enemy. >> reporter: inouye was elected to the u.s. house of representatives in 1959. the same year hawaii became a state. he won a seat in the senate three years later where he served 8 1/2 terms. >> he was a man who, as we all know, rarely called attention to himself, but who lived a remarkable american life filled with dignity and grace of the true hero that he was. >> reporter: he gained notoriety when he served on the senate committee looking into the watergate scandal. the probe ultimately led to president nixon's resignation. in a statement, president obama said, "our country has lost a true american hero." cbs news, los angeles. >>> congressman tim scott has been appointed to fill the south carolina senate seat vacated by jim demint. scott will be the south's
for a boycott. >> start with italy's silvio berlusconi, the announce that he will make a fresh bid for government and mario monti possibly exit in -- this has the markets very worried. the cost of borrowing for the italian government was 7.5%. it's one of the reasons silvio berlusconi was outed. mario monti came in as the leader of this technocrat government. he had to walk a tightrope. he had to calm the market. he did that. the cost of borrowing came down. the markets and investors look at this uncertainty and they are all over the place. the cost of borrowing is on the way up, and the market has fallen. the main one is down by 3.5%. some of the banks have fallen by six. -- 6%. >> this crisis has always been a crisis of confidence. lately, confidence has improved. markets are doing much better. the ec become a bureau -- the central bank has improved -- the ec beet -- the ecb has improved. we could see up. -- a period of nervousness again. clearly, this is not a good development. >> it is all about the same issue -- austerity and taxes. >> la grande sortie. the exit of their rich
that went down aground -- went aground in italy and abandoned ship ahead of some of his passengers, "i tripped and ended up in one of the lifeboats." he said. again "that's why i was in there." or finally, was it karl rove? a fox news paid analyst but the guy behind a romney super pac frantic after fox's numbers crunchers called ohio for obama. even though all the networks had. >> do you believe that ohio has been settled? >> no, i don't. the director of the ohio campaign for romney on the other end of the line refreshing the page every few seconds. i think this is premature. we got to be careful about calling things. chris: a great night for megan kelly but not a great night for karl rove. >> ryan and rove were part after larger republican story which is to deny reality. and my favorite chutzpah moment was a deny reality moment was when the romney campaign suggested that a fiat was going to close a plant in toledo making jeeps when everyone in fiat and toledo knew it wasn't and did that five to 10 days before the election closed. everyone knew it wasn't true and they kept running ads
italy. starting at 7:00 the corner of styles and high street. there will be carols and a visit by santa. >> help a child in need and it is toy drive time. we have been doing this for 14 years. can you drop off an almost -- most area wal-marts. can you find a list at www.abc2news.com. and we have a drop off location in the lobby. >>> 6:51 a local effort to help victims of sandy. and the loyola is holding a classic. here is how it will work. current undergrad waits will form teams for each class. they will compete. and athletes and coach them and referee the teams and proceedings from donations and the event is from 2 to 6. >>> we have outdoor and in door f the weather play as factor this weekend. there is plenty to do. >> something for everyone. i say if you want to go out. bundle up. can you do this this weekend? >> you only have to bundle up. can you bundle up today but make sure that you have the rain gear. we'll need that this morning as well. >> let me break it down. we have clouds out there this morning. we have some rain starting to come down across the area. all this is pushing f
instead of putting on taxes. >>> france, italy, the united kingdom, even greece is raising its tax rates and it's not helping at all. growth rate is very low. thank you. bugging your bus with your own tax dollars. government says it's eefgs dropping for your own safety, folks, but it is just a costly invasion of your privacy? >>> nothing private anymore. san francisco the latest city putting eavesdropping devices on public buses. department homeland security dishing out $6 million to the city by the bay so it can listen into the passengers and more towns are planning to do the same thing. and john hates the idea. why? >> its horrifying blast to the iron curtain world of the past where brutal governments snoop on people. we're not subjects of the federal government. they work for us. the idea they become angels so they can look over us is really scary thing. >> it's the worst of the past. big brother era and worst of the future with high technology. what do you think? >> please. come on. a lot of crime happens on buses. i think it's a great idea we have cameras in there. it's not like som
. >>> by now you have probably seen images of the tornado that ripped through southern italy a few days ago. this is a video posted to a facebook page by a woman named victoria. >> it is like the entire sky in the tornado. huge. >> this video is about to get far more terrifying. they stay outside of this structure for quite a long time capturing the tornado. you can see debris. the tornado is coming closer and closer and they still appear to be outside of the structure. >> i can't believe how long they filmed this. this video is almost three minutes long. whoever filmed this stayed out there for a heck of a lot longer than i would. >>> another friendly reminder to ride your motorcycle responsibly. guy is out on his gsxr 1000. he is riding with a group of other riders. you see him passing other riders in his group and going at a pretty good clip. he reports about 85 miles per hour. he comes up to a turn and he is not able to navigate this turn. he went off a 35 foot cliff. >> the only thing that i came out with was a sprained ankle. >> that's it after a 35-foot fall? >> i'm glad he is okay.
about a row cool concept of video itself is an incredible. for all those places in italy take a real camera. that's why you can this anywhere. st: deal have a video camera you can take with you during these situations and maybe you won a tour europe and go off in one of those from places but they allow. i is really fun i had the kids during halloween completely surprise them and hear the kids at halloween their super cute. it was a conversation starter and i told the guys i was filming them in their costumes. you could also take still pictures as well and here's one of my favorites we can go ahead marlo and those are one of those moments 21 have a little bit of fun just think about it for your doctor's office to combine it for your elderly mom or dad. my folks are constantly atc13 doctor's office these days as she was overwhelmed by the amount of information she was receiving from the family doctor. this is a perfect gift idea gift and for teenagers to mention students my cousin is only 19 years old and he's a boy so i do not really know what they're into and so when i did was caugh
and that is a game leapfrog. we end up with more debt and a weaker economy. the road map is greece, italy, spain, all over europe but the president thinks you can tax-and-spend your way to prosperity. >>neil: what the administration throws back on the issue is take a look at italy and greece, austerity has worked. you say what? >>guest: they have a strange definition. alwaysst either to them means higher taxes in europe and the united states austerity means less spending. i am in favor of the right definition of austerity. the balkan countries got out of the mess and now they are doing well economically because they cut, not just cut spending in the washington sense of increasing it at a slower rate they spent less one year after the other and now they are out of the trouble. if you understand the right definition of austerity is the way to go, the problem is in most of europe it means higher taxes, obama wants to give us the bad part of europe, without the good part. >>neil: thank you very much. they are not cutting anything. just slowing the growth. rebound and former president bill clinton hitting
a carry-on with the must-have item. on a trip to italy things got off to a rocky start for season and her husband. >> we were told when we first got on the bag before we got on the plane the overhead bins were full so you must check your carry-on, so we did. >> then what happened. >> we got to rome and it wasn't there. >> they took in the sites and sounds of italy but without underwear, of course, so they bought new. when their luggage finally arrived, they went to pick it up. >> we had to go to naples to pick it up. and that was probably an hour ride on the bus from where we were. then we had to take a cab from the airport in nap else -- naples to the train station in rome. it happens so she put in a bill for her costs. >> underwear, a sweater, a jacket, and we had to buy a bus ticket from there to the naples airport and cab fair to the train station. >> and what did she bill the airline? less than $70. >> it didn't come, it didn't come, it didn't come, so finally i decided, okay, 7 on your side is going to be my way of getting my money back. so i did contact 7 on your side and i was cal
was snorkeling so she needs another 7 days of vacation. >> in italy if you start a business keep it small up to 10 workers you have flexibility. if you hire an 11-th employee you must submit an annual self assessment to the national authorities outlining every public health and safety hazard? >> yes. we are not just talking about how you deal with workers moving heavy machinery. it must also include how to deal with specific stresses related to perhaps your age or gender. it has to include the name of the doctor who informed the assessment and showed howitt tallian workers worked at companies with 10 or fewer. >> if you have a 16th employee you have to have union representatives to fulfill union duties. >> at least 8 hours a month. if>> if you hire one more employee he has to be disabled. >> the next must be disabled in some way or else pay a fine. >> at the 51th employee 7 percent of the payroll must be handicapped in some way. >> by the time you get to 51 employees 7 percent must qualify in some way. rates of disability in europe pretty high. >> if you have 101 plies even more rules. >> le
on the battlefield, world war ii and lost his arm in battle. bottom line, he was wounded just one hill away in italy from where former senator bob dole was also wounded and senate majority leader harry reid was here hawaii today eulogizing senator inouye, talking about how emotional he got as he saw the senator's casket in the rotunda. >> he wasn't satisfied just to be there, he wanted up on that platform so he could reach his friend of 60 years, dan inouye. he got up there, with a little struggle, but he got up there and soldier to soldier, with his left hand, he saluted his soldier friend of 60 years. >> reporter: now, i want to make clear that senator inouye, i said he was award theed medal of honor. he earned it, he's a recipient. not something he won in a contest. and they heard me say that or told i said that. i want to clarify that senator inouye, all three of men received the honor, great, great honor, harris. >> harris: you've cleared it up for us, ed henry. now we'll see the flip side of this and talk about what's going on here in the mainland. the president is on vacation obviously, but
wo world war ii. he lost his arm in the battle. he was wounded one hill away in italy from where former senator bob dole was also wounded. harry reid was in hawaii talked about how hie motionnal bob dol got when he saw senator inouye's casket in the rotunda. >> he wasn't just satisfied to be there he wanted up on the platform so he could reach his friend of 60 years dan inouye. it was a little struggle but he got up there and soldier to soldier with his left hand he sal lawsuit-- saluted his soldi friend of 60 years. >> now i want to make clear senator inouye was the recipient of the medal of honor. today i said he was awarded the medal of honor. big difference. he earned it. he was a recipient. i understand ball bouka and dakota meyers who were both recipients were told i said that. i want to clarify senator inouye all three of the men received the honor. great, great honor. >> you have cleared it up for us. y we will hear the flip side of this and talk about what was going on in the mainland. >> the president is on vacation obviously. is he doing other work that might bring him
as a boost to the credibility of north korea's new leader, kim jong-un. >>> italy has pulled itself out of the debt crisis. monte is widely credited with saving italy from a financial meltdown after stepping into the prime minister's role following the resignation of silvio berlusconi last year. monte's resignation sparked concern. >>> president obama and members of the senate will gather later today to say good-bye to one of their own. senator daniel inouye who represented hawaii in statehood. he was 8. senate majority leader senator harry reid has called on neil abercrombie to quickly appoint a successor before the end of the year. >>> ted kennedy jr., son of the late edward kennedy is considering a run for john kerry's senate seat, according to his brother former congressman patrick kennedy. "boston globe" reports that ted reached out to family members, friends and prominent democrats including john kerry about the possible run. he will likely faceoff against former senator scott brown who lost his seat to elizabeth warren in the november elections. those are your top stories. "relia
't want to indicate this or that person, then everything became political. and in italy when something becomes political, and controversial, politically speaking then the only thing that you can do is to leave. but 19 years are part of my best years in my musical career. so i said, you know, to explain exactly details what happened is impossible. and the newspapers generally made a mess of the entire story because they didn't know exactly the details. they thought that the orchestra was against me but this is not true. >> not true, absolutely not true. i never had a fight with an orchestra in my life. but there were reasons outside of the artistic field that created a situation and we couldn't kmup kate any more. we had completely different ideas. >> there was no one that could have made a difference? >> no, because we mentioned before this dictator, you know, in a very delicate way. but mussolini, one time said speaking about italy, the italians said one phrase that is memorable. one phrase was interesting. they said to control it, to govern the italians is not difficult. it is imposs
town in italy. in italy he is the man. he is right there. he is right there with michelangelo and da vinci but there is no color. >> it's a sketch. what is it with, pencil, char coal? no oil. $47 million? melissa: was it you? it wasn't me. >> i would bid 47 cents. melissa: up next, the artist, psy famous for gang nam style is not making money from song sales that was only 60 grand. instead he is making nearly $8 million from youtube ads, eye tunes downloads, even commercials. since july the video has had close to 9 million views which is even more than justin bieber. love it. >> i love it. i love --. melissa: i'm staring at it. >> my 8-year-old nephew, he brings the house down every time. that thing comes on and he goes crazy. i don't know what it means. don't know any word of the song. melissa: bet you can't do that dance. >> in the shower,o?
. the question is what going to become o of the circus known as the political situation in italy but really we do think futures will trade higher again. liz: thank you, john, good to see you. david: shares of diamond foods following double-digit lead. nicole petallides with details as to why. nicole: you think of diamond foods you think of the peanuts and the top-secret popcorn. it really is a household name they came up with numbers in the fourth quarter loss, not good news. that is why the stock was tanking today. all kinds of charges they had according to an accounting scandal investigation, that actually hit their numbers as well. this is why diamond foods was coming under some significant pressure today. back to you. david: president obama visiting a michigan auto plants today discussed in a fiscal crisis. our next guest argues in the long run they could see strong auto sales if ther there's no d% all. joining us now, edmunds.com chief economist. good to see you. how would we be better off if we go for the fiscal cliff at least in auto sales? @> we're better off because we're taking hard med
%. what we saw was the recession expanding. spain, italy, the uk, all found austerity taking its toll even more as unemployment continued to rise in some of those countries. even the large country, the economic powerhouse germany found its slelf slowing down. the root cause of it all was the inability of the european governments to come to policies to get growth started again. towards the middle and end of the year they did, but the tale was style there. very much austerity again and again. perhaps if there was only one change that took place as we moved into the fall and into the winter. it was the realization that most of these countries could take no more austerity. social welfare having been cut, health care cut, unemployment, growth virtually nonexistent. now the talk is not of more austerity, but how to get growth started again across the contine continent. suzanne. >> thank you, richard. >>> christmas, of course, is a time of giving, but there are many struggling families in boston that couldn't aafford to get their children he anything. this year for almost six decades help kamt no
's highest military medal for action in italy. as a member of the senate, senator inouye continued his fierce defense of his state in his partnership with alaska. my preye predecessor, ted steve, knew senator inouye as his brother. they worked together and produced much good for both our states. that will last for generations. when i was elected to this office, senator inouye was one of the first members to reach out to me to ask how he could help. the unique thing about senator inouye was always his quiet approach to all the issues. he provided me quiet advice and helped me learn how this place works. many times i'd be down here at the podium and in the well here waiting for the vote to be tallied or members to vote, and snon senator inouye was come in, stand at the edge there and look up and just say, how's it going, alaska? and we would have a brief conversation and usually his words were land incredible insight -- it may not even be relevant to the topic that we were voting on, but he'd say something to me about something he knew i was working on. and he would just share a few words. i kn
the road, which is rich coming from a european. >>> european trading the lower this morning. italy's prime minister mario monti, yes, the same one that is famous from all the anti-trust things back in the -- was that the '90s? >> the '90s, yeah. >> monti announcing he'll step down before his term ends. the decision comes after the party of sylvia berlusconi withdrew support for monti's government last week. berlusconi has indicated he will run for leadership again. cnbc's carolin roth will join us from italy with the latest in a few minutes. when i was over there, i had to have the -- all the political signs translated because there's a picture of monti sitting under a beach chair drinking a drink and all the text was send monti to the beach. they already didn't like him. >> he had very high disapproval ratings. i remember last summer i had seen that somewhere. >> they want to send him to the beach. the major european averages at this hour, there they, they're all down. not great in france, but germany down about .7% and the ftse down fractionally. other news out of europe, debt tieback fo
for broke regiment. he saw combat in italy and southern france and was badly wounded during an engagement for which he was awarded the distinguished service cross. which was later upgraded to the medal of honor. our highest award for military valor. with financial assistance from the g.i. bill, inouye graduated from university of hawaii and the george washington university law school. when hawaii became a state on august 21, 1959, annual in a way at one election to the united states house of representatives as a new states congressman. later elected to the united states senate in 1962, he is currently serving his eighth term in the united states and. >> in our earlier and abuse in this series, other people we have spoken to have talked about the first time they were sworn in as a member of congress. in 1959, he became the first member from hawaii. what was that like when you were first on the floor of the house of representatives? >> well, i spent some time in washington before this, as you know. i went to law school, but i've never been on the floor of the chamber. and so it was an aweso
. >> speaking of family and memories you came over here to the united states from italy fleeing communism right as a young kid? >> die. i came here in 1958 and i was 12. you can count the years. i was 12. and we lived -- we come from italy from the boot in northeast corner under austria, now slovnia. that's where i was born. that whole area was given the newly formed communism area. we got caught behind. i was just born. we got caught behind the iran curtain. we were italians so we couldn't speak italian or practice our religion or anything. so when i was about 9, 10 my parents decided, i had a brother who was older that they really needed to go back to freedom back to italy where we belonged. but we couldn't. they wouldn't let you out. my brother, my mother and i went to the store. my father had to escape. he escaped, we were reunited where i had relatives and cousins and we lived with them for a while. and so there was an option we went to refugee political refugee camp. now it's a museum. we stayed there for two years waiting. and dwight eisenhower was the president t
roughly speaking in the likes of italy and france and actually grew for germany. then in q4, it seems that there is a greater degree of destocking i think, materializing. i think that is going to lead to some weakness on the industrial production side and it does appear that the austerity is very much perceived by household and by service sector companies. and that explains this relatively soft data. it's a sign that really we are still in a period of multi-year major fiscal entrenchment and at the same time, we have a very cautious perspective towards taking on debt. both by the suppliers and the demanders of that debt. >> julian, very briefly, will we see more qe? will we see any more next year or not? >> well, it will depend, i think, on how things develop. on our baseline forecast, the answer to that would be no because we are looking for recovery coming through really reasonably significantly from the first quarter of next year with .4% quarter on quarter. >> julian, thanks for that. always good to see you. julian kelly joining us from barclays. which country is more corrupt and
won't do particularly well, but germany and italy maybe next year have a potential surprise on the upside. >> how much of a surprise? >> it will not be a fast recovery. the ecb will be forced to do more, but they'll be drald dragged into it. so things will have to get worse before they act. so i don't really think -- >> what more actions? they have a t program waiting to go. what more actions are you talking about? >> the key policy rate for the ecb is likely indeed in the first quarter. they can take dpopt deposit rate negative. by the middle of next year, they'll be doing outright qe. i've been talking about this for ages. they haven't done it so maybe they won't do it. but i'm assuming that the outlook for inflation for the eurozone is -- >> how are they going to get around -- look, i know the bundes bank has a fear of hyper inflation. i just don't -- are they going to get around all the -- because even if they do it on the inflation mandate, are they going to get around the objections about outright money printing? germans would see it as that. >> they would see it as ou
,000 served in that combat team during the brutal combat in italy. 9,500 received purple hearts. twenty-one medal of honor is including senator inouye, met lamar. and it was a remarkable time, remarkable commitment that he demonstrated to the country that he loved. we will talk about his record and i made to that later myself but i just want to say what i think about daniel inouye at his core, he shared with a save few weeks ago at the prayer breakfast, we don't quote what people say at that meeting, but he talked about his feelings about war, his participation in it. one of the most moving presentations i think any of us had seen. it was so well received by the people there. the truth is senator scott keeter -- senator inouye did not like war. he hated war. he knew the destructive power of war and how people suffered as a result of it. he voted against a number of resolutions that would have committed the united states to military action. but at the same time, there was no doubt, based on his ranking and chairmanship of the subcommittee and defense and appropriations over period of yea
with the famous 442nd regimental combat team in world war ii and was grievously wounded in battle in italy. now, mr. president, the citation, the words for his medal of honor are as follows -- every medal of honor recipient, they write a paragraph or two about why he was given this award -- "on april 21, 1945, inouye was grievously wounded while leading an assault on a heavily defended ridge near san turazo in tuscany, italy. the ridge served as a strong point along the strip of german fortifications known as a gothic line which represent the last and most dogged line of german defense in all of italy. as he led his platoon in a flanking maneuver, three german machine guns opened fire from covered positions just 40 yards away, pinning his men to the ground. inouye stood up to the attack and was shot in the stomach. ignoring his wound, he proceeded to attack and destroy the first machine gun nest with hand grenades and fire from his thompson sub machine gun. after being informed of the severity of his wound by his platoon sergeant, he refused treatment and rallied his men for an attack on the se
than the united states. i mean, countries like spain, italy -- >> the austerity policy. when you look at the country -- >> countries like spain and italy -- >> i'm talking about the labor market adjustments. >> they have seen 20%. that's a problem. >> i'm sorry. i didn't hear -- what did you say? >> spain, italy, unemployment around 15, 20%. >> of course they do. >> juliet, hang on, because it is connected to the german point. part of the reason that germany has been able to have export-led growth and be so successful internally, germany is the china of europe. >> i realize that. i made that point about 20 minutes ago. you add shock at the beginning. i'm not talking about the later stage of austerity and self-imposed pain, which is what europe is dealing with right now. but if you look at the ocb adjustment to the downturn and the u.s. has a huge g and p adjustment and loss of unemployment where a lot of these other european countries adjust on hours and their unemployment doesn't go up. that's the only point i was making. >> adjust on hours meaning you get something more like job sha
? not italy, i can tell you that. one global investor shares his pick next. tracy: the food and the love is still better there. a look at the winners and losers on the nasdaq. as we head out to break, research in motion up top. liberty media holders and sears all down today. we will be right back. tracy: so here's a shocker, not only as a federal government spending way more money than it has, but state government spending is also out of control. so much so that had to hold a conference to figure that out. senior washington correspondent peter barnes has the latest. let's get all these people together, spend more money to figure out where overspending. >> it was an interesting conference. many state governments have also made big spending commitments they may not be able to keep and display experts at the u.s. chamber of commerce said it could be getting worse. this report from that task for force, the state budget crisis task force estimated state and local tension funds are underfunded by 8 trillion to 3 trillion. another trillion for unfunded health benefits and other health care refo
's happening with italian politics. of course, mario monti saying he was going to resign as italy's prime minister. that paves the way for flesh elections to be called in the beginning of next year. yesterday, we saw the negative reaction. sylvia berlusconi wants to make his return on the political scene. today, we saw a bounce back. if you can see see bind me, the bank stocks in italy rerebound, but it's only in the range of .5% to 1% of these names which were down in some cases nearly 10% yesterday. if you take a quick look at european bourses, if that's possible, down near the ftse mib, this is the one selling off somewhere in the range of 3.5% yesterday. today it's adding about .8%. in spain, showing a nice rebound. same attitude listing peripheral debt. we can take a look there. italy and spain seeing prices rise, yields falling to 4.75% and 5.75% respectively. is investor attention returning to spain? here is the thing. italy is the third biggest government debt market in the world. it's the third biggest economy in the eurozone. whatever happens with its political situation could p
was supposed to come to market. italy, oh, my, what happens when italy -- it turns out you had to take it down. i know that john corzine, very controversial figure. that's a code word. but what a trade they almost had. in the news again today. >> almost. >> horseshoes, hand grenades. >> we should point out, gm was certainly not having the easiest of times of it. this morning's stock is up sharply, we're telling you why. the company will buy back at a premium to at least what was the market price as of yesterday, 200 million shares from the government at $27.50. that having the effect of sending the stock above that. why not, if you're gm, you've got all this cash sitting on your balance sheet. you're earning virtually nothing on it, why not take the opportunity, even at a premium, to buy it back by as much as 11%, shrinking the cap by that much. we heard from tim massad who runs t.a.r.p., they'll be dribbling out the shares over time. the next 12 to 15 months. similar to the strategy employed with citi. a bit of it coming out. and finally they cleaned it up with a few big blocks. >> that was v
should let, and italy has more forward in an expedited fashion open to a private contractor who is now providing competing service to the public sector in italy so we can look at some things that may not be successful in other countries and tried to pick the very best options. let me yield mel. >> thank you. i can only take my colleagues at his word. when we went to the central valley, one of the robot has been the lack of knowing the details. the conversation you just went through with mr. lahood, how could we expect to get an update on who these private companies are that are able to invest that come much are they willing to invest that i have heard him say the same concern for over a year now. when do you anticipate the governor would work with you to present a package of how we might be able to get the private investment? >> i'm not going to speak for the governor. this has not been determined. companies that want to invest. >> can you also expressed to the governor on half of this committee that he would give some of state whether he wants to do it through closed sessions are give
administration did not take the attitude, we don't care if communism comes to power in france, italy, or japan, as long as there's fair elections, that's all we care about. that was not their attitude. in fact, they were willing to pour covert american funds into political campaigns which, on some level could be seen as prejudice to the free and fair elections, which i think they under correctly to be in the long term interest to preserve democracy and freedom in those countries. we have to rethink the checks we put on our behavior today where we are terrified of having the cia, for example, be involved in covert funding of modern elements in the muslim world, in part, baa we are rightly concerned that cia involvement is impossible to keep secret in today's world of wikileaks, but i, you know, unfortunately, our enemies show no self-imposed limits on them, and out there practice active dollar diplomacy on interests not congruent to our own, and we are standing on the sidelines. it's a lesson that -- this is just one example of many oh i think we are failing to wage political warfare. i only ha
with saving italy from a financial meltdown after stepping into the prime minister's role following the resignation of silvio berlusconi. monti's resignation sparked concern italy may slip back into a recession. president obama and member hers of the senate will gather today to say good-bye to
lost an arm during a battle in italy. he became the first japanese-american in congress and served 50 years in the senate. he played a key role on two major congressional investigators, watergate and iran contra. daniel inouye died yesterday. he was 88 years old. >>> it looks like the first president bush will get to spend christmas at home with his family. the 88-year-old former president could be released from a hospital any day now. he's been in the hospital since the day after thanksgiving. doctors have been treating him for bronchitis. >>> two kansas police officers gunned down while on the job were remembered last night in topeka. they were both shot in the head while investigating a suspicious vehicle in a grocery store parking lot. the shooter, a man with a history of theft and weapons convictions, was later killed in a shootout with police. >>> a huge drug bust in colombia where authorities seized literally a ton and a half of cocaine. the shipment was set to go to honduras, then mexico, where it would have been delivered to a drug trafficking cartel. the drugs have an estima
time! if down the street it's all about japan here on the job site it's a little bit about italy, and that's because the plasterers are here. you know, there's not a lot of guys that still do blueboard and plaster, and this is a little bit of an old-world art, and we have got one of the best crews working for us. it is bucco and sons. bobby, how you been? good, you? all right. so you've actually worked with us on a couple jobs over the last couple of years. yes, we have. and it's actually a family affair? oh, yeah, it's me, my brother my brother in law, and my father, vito, who i'd like to introduce you to. vito, nice to meet you. thank you, nice to meet you. so how long have you been doing this? oh, 1950 this summer 1950. 1950! 60 years. yeah. unbelievable. now, you grew up in italy? i grew up and i came here when i was 14. and got right to work? my uncle wanted me to get out of the house, so he said, "i'll send you to work with a friend of mine mr. batista clemenzi." mm-hmm. and then i was with him for 19 years. and what types of jobs w
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